What Does “Actual Cash Value” Mean In Car Insurance?

Defining “Actual Cash Value” Unlike our homes, we all expect that our cars depreciate in value over time. In fact, you are probably familiar with the fact that your car drops in value the second you drive it off the dealership lot. Once your car is no longer new, its resale value diminishes. Your car insurance provider knows this, too, and that is why your car insurance policy probably contains the words “actual cash value.” What actual cash values means is that your insurer will reimburse Read More

Hidden Costs When Buying a New Car

Secret Car Costs When shopping for a new car, you may think that the number that is on the sticker is the only cost that you have to worry about. However, there are many secret costs that can come with buying a new car. Make sure to watch out for these hidden costs so that you can afford the car that you buy. Gas mileage – unless you are buying a completely electric car, you will have to consider how much you will be paying each time you head to the pump. While there will be gas mileage Read More